Crowdpark launches iOS games despite insolvency filing

Insolvency administrator appointed to work with management team and M&A advisors to sell off assets.

Crowdpark has announced the launch of its first mobile games, while the company’s newly-appointed insolvency administrator has spoken for the first time to claim that there has been “much interest” in acquiring the business’ assets.

The Berlin-based operator has released iOS versions of slot game Pet Vegas (pictured) and social betting app Ante Up, optimised for tablet and mobile devices and featuring Facebook integration.

Commenting on the launch, co-founder Martin Frindt explained that the sheer volume of potential players on mobile and credit card registrations making monetisation easier had prompted his company’s move: “Crowdpark feels that it is essential to maximize social games’ potential by pursuing a cross-platform strategy, capitalizing on cross-marketing and seamless play on multiple devices.

“Mobile and Facebook are synergistic platforms allowing for heightened gamer satisfaction,” Frindt concluded.

The launch comes just weeks after the operator exclusively confirmed to Social Casino Intelligence that it had filed for insolvency after key backer Target Partners had withdrawn funding to the business following the poor performance of its core Bet Tycoon product.

The operator has now appointed Thomas Kühn of Brinkmann & Partner as its insolvency administrator to work alongside the Crowdpark management team and M&A advisory firm Advantum Corporate Finance to secure additional investment and sell parts of the business.

“Crowdpark has a highly qualified team and great technology,” Kühn said, adding: “We have seen much interest from potential investors and acquirers in our initial discussions. I am confident that there will be a favourable outcome for Crowdpark.”